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Insured Deposits

Your Insured Deposits – Questions & Answers

  1. If my bank has temporarily reduced branch access or is not open, is my money still insured? 
    Yes. Deposits will continue to be protected up to at least $250,000.
  2. Will there be enough cash during a pandemic?  Do I need to keep large amounts of cash in my possession to protect myself in case there is not enough cash available in the future?
    The Federal Reserve System has and will continue to meet the currency needs of banking customers. Be assured that sufficient resources are available to handle customer needs.

    Keep in mind, the safest place for your money is inside an FDIC-insured bank. We will continue to ensure that you have access to your funds either directly or electronically.
  3. Is there anyone I can speak with if I have detailed questions about my FDIC deposit insurance coverage?
    Yes. Please contact us at (800) 836-3711 and we’ll be happy to answer your questions.  Additionally, the FDIC has a team of subject-matter experts available to answer your questions. Please call 1-877-ASK-FDIC (1-877-275-3342) and ask to speak to a Deposit Insurance Subject Matter Expert between 8:30AM- 5:00PM Monday-Friday.
  4. I have deposits that I think may exceed the FDIC’s deposit insurance limits. What should I do?
    A key tool for determining deposit insurance coverage is the Electronic Deposit Insurance Estimator (EDIE), which is available at  In addition, the FDIC website has a wide range of other information links that can help you better understand and determine your deposit insurance coverage at  If you have concerns about exceeding the FDIC deposit insurance limits, please give us a call at (800) 836-3711. 
  5. Who can I contact for information about banking services?
    Customers with questions can contact the FDIC toll-free at 1-877-ASK-FDIC or 1-877-275- 3342 or TDD 800-925-4618 for information about accessing banking services or how to reach their bank. This hotline operates from 8:00 a.m. to 8:00 p.m. Eastern Time Monday through Friday and 9:00 a.m. to 5:00 p.m. on Saturday and Sunday. Please note the FDIC does not have access to your specific bank account information. For immediate assistance, you should contact your bank directly. Additional information can be found online at 19/index.html



Wealth Management Services are Not FDIC Insured. Not Bank Guaranteed. May Lose Value. Not Guaranteed by any Government Agency. Not a Bank Deposit.

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Chemung Canal Trust Company deposits and are not FDIC insured. These products are not obligations of the Chemung Canal Trust Company and are not endorsed, recommended or guaranteed by Chemung Canal Trust Company or an government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal in possible. Chemung Canal Trust Company and The CFS Group, Inc. are not registered broker/dealers and are not affiliated with LPL Financial.